Solar Panel Cost Guide in Champlin, MN (2024 Update)
- Champlin Solar Installation Cost: $20,316
- 25-Year Savings: $19,603
- Payback Period: 15.0 Years
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Average Cost of Solar Panels in Champlin
Find out how much it might cost to go solar in Champlin.
The average cost of a solar panel system in Champlin is 4 per watt.The average Champlin homeowner needs a 7.2-kilowatt system, which would cost about $20,316 with the federal tax credit, or $29,052 before the 0 tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Champlin homeowner. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.Many homeowners find installing a solar panel system is a solid investment. The average homeowner in Champlin can save about $18,000 on their electricity bills over 20 years.
You can click the button below to get connected with a top solar installer in Champlin that can help you get a more accurate cost estimate for your home.
Solar savings over time in Champlin
| Year | Return on Investment |
|---|---|
| 1 years | $-19,037 |
| 3 years | $-16,478 |
| 5 years | $-13,919 |
| 7 years | $-11,360 |
| 9 years | $-8,801 |
| 11 years | $-6,242 |
| 13 years | $-3,684 |
| 15 years | $-1,125 |
| 17 years | $1,434 |
| 19 years | $3,993 |
| 21 years | $6,552 |
| 23 years | $9,111 |
| 25 years | $11,670 |
Top Solar Installers in Champlin
DIY solar panel installation is a way to cut costs, but it's an undertaking that can use up a lot of your time and energy. Using a solar panel installer can make switching to solar power much easier. Solar companies offer key benefits that can help you maximize your investment, like warranties, monitoring and free repairs.
Working with a vetted solar installer can help your solar project go smoothly. Here are our recommendations:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Champlin
Factors that Affect Solar Panel Costs in Champlin
The cost of installing a solar system in Champlin can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
When it comes to estimating the cost of solar panels in Champlin, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy consumption, which you can figure out by looking at past energy bills. Your overall cost can increase by about $4,030 for each additional kilowatt you need.Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Champlin, where sunlight isn’t as abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Champlin to be prohibitively expensive, even if the investment pays off over time. Thankfully, almost every solar company in the area provides financing options. Solar loans substantially decrease upfront costs in most cases, but they also lead to higher prices over time because of interest.However, the interest on solar loans also adds to your all-in costs, so it’s important to take that into consideration as well. You can always bring down the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The remaining key cost factor you should consider is the installer you choose. Given the growing popularity of renewable energy solutions in Champlin, you’ll have lots of options to choose from, but each comes at varying price points for labor and equipment.You may notice national solar installers that have lower prices due to their bigger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $4.19 | $17,603 | $10,657 | 15.6 years |
| 8 kW | $4.11 | $23,019 | $14,660 | 15.3 years |
| 10 kW | $4.03 | $28,210 | $18,889 | 15.0 years |
| 12 kW | $3.95 | $33,175 | $23,344 | 14.7 years |
| 14 kW | $3.87 | $37,914 | $28,025 | 14.4 years |
| 16 kW | $3.79 | $42,428 | $32,931 | 14.1 years |
| 18 kW | $3.71 | $46,716 | $38,063 | 13.8 years |
| 20 kW | $3.63 | $50,778 | $43,421 | 13.5 years |
How to Save on Solar Panels
The solar company you go with will be a major factor in determining not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should keep in mind, such as:
- Contract: When looking over your solar company’s contract, ask questions about any terms you’re not sure of and make sure you understand what happens in scenarios like a system component breaking or the company going out of business.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. Even though there are many options for which kind of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to peruse their list of options before making your decision.
- Installation Process: Make sure you’re on the same page with the installer in regard to how the installation process will go and what you need to do before your solar panel system is installed, such as repairing your electrical system or roof.
- Reputation: Your solar installer should have a sound reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from past customers.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Champlin, MN Solar Cost FAQs
How much does it cost to install solar panels in Champlin?
The average cost of solar panels in Champlin is about $20,150 for a 5-kW system and $40,300 for a 10-kW system before the ITC, but the real cost will depend on certain factors such as the model of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Champlin?
Leasing solar panels can be an option if you can’t afford to pay upfront or get a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
Does Champlin have a net metering program?
The majority of states offer net metering programs of some kind. Through these, you can get paid for the extra power your system produces or or receive credits to put toward future utility bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and the average daily sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to cover their typical energy usage.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.